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  5. IPL Media Rights Auction: TV & Digital Rights sold; Package C rights touch Rs 1700 crore, bid resumes tomorrow

IPL Media Rights Auction: TV & Digital Rights sold; Package C rights touch Rs 1700 crore, bid resumes tomorrow

The winner of package A (TV rights) has counter-offered the winner of package B (Digital rights), Here are latest updates and all you need to know about the auction.

Aachal Maniyar Written by: Aachal Maniyar New Delhi Updated on: June 13, 2022 19:35 IST
IPL trophy
Image Source : BCCI

IPL 2022 trophy won by Gujarat Titans

The second day of the e-auction concluded with bidding for package C and D to continue tomorrow. The value of digital rights of 18 specific matches each year from 2023-27 (Package C) touched Rs 1,700 crore from the base price of Rs 1,440 crore.

The top four contenders in the race are Star India, Zee Entertainment Enterprises, Reliance Viacom Sport18, and Sony Group Corp.

Earlier in the auction, Package A which contains Broadcasting rights, and Package B which includes Digital rights for India have been sold.

According to reports, the winners of both the packages are different companies. 

The value of TV rights closed at 57 crores per match and the value of Digital rights concluded at Rs 48 crore per match.

The overall bid of broadcast and digital rights for IPL 2023-2027 closed at Rs 43,050 crore from the base price of Rs 30,340 crore.

However, the winner of package A (TV rights) has counter-offered the winner of package B (Digital rights) at an incremental bid of Rs 1 crore. And the bidding war is in progress.

What are the four packages provided for bidding?

There are four specific packages in which e-auction will be conducted for 74 games per season for five years from 2023-27 with a provision of increasing the number of matches to 94 in the final two years.

  • Package A: Indian sub-continent exclusive TV (broadcast) rights 
  • Package B: Covers digital rights for the Indian sub-continent.
  • Package C: For 18 selected games in each season for digital space 
  • Package D: All games will be for combined TV and digital rights for overseas markets.

How will be the bidding conducted?

All bidders will have to make separate bids for each package, this time. The participants will make the decision whether or not to continue bidding for the media rights after a certain stage. This is different from the 2017 auction when there was a process of closed bidding. The process will take time, and the eventual bidder's name may not be revealed for several days.

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